Budget 2021: Govt’s pro-growth stance was clear with PLI announcement, says Credit Suisse

Budget 2021 gives a strong message of intent, said Neelkanth Mishra, Managing Director & India Equity Strategist at Credit Suisse, on Tuesday.

A pro-growth stance of policy was clear even when the production linked incentive (PLI) scheme came out. The government, for the first time, was trying to push for a growth. So this budget is more a statement of intent. Therefore, it’s too early to get into specifics and which is why broad based moves are happening, he told CNBC-TV18.

"The FY21 RE versus BE (revised versus budgeted), almost all of the increase is either in food subsidy or fertilizer subsidy. It is partly the clearance of arrears or National Rural Employment Guarantee Act (NREGA) and to some extent on roads and railways,” he said.